(As published in AMEInfo 29th March 2012) Many small businesses struggle to get established because they don’t fully understand the requirements for start-up, according to a leading Abu Dhabi business consultant.
Speaking a recent Tamakkan seminar for entrepreneurs, Soaud Al Hosani from Nexus Business Services said it is very important to identify the proper rules and regulations from the start.
“Most small businesses don’t have a clear idea of what is required to set up a business,” said Al Hosani. “There are many great entrepreneurial ideas out there, but many never get started because they have taken the wrong advice or not followed the right regulatory path.”
“All start-up businesses should seek an experienced consultant to streamline things like permits, licences, company formation and office locations. Doing this properly in the beginning will improve the success rate of start-up businesses.”
A brief survey of attendees at the last Tamakkan seminar showed that many entrepreneurs believe it is harder to source funding for SME businesses in the current economic climate. Despite this, most of those surveyed believe now is a good time to start up a new business.
CEO of BrandMoxie, Sana Bagersh, who established Tamakkan in 2009, said there are mixed signals in the marketplace.
“It is a difficult balancing act for entrepreneurs at the moment,” said Bagersh. “On one hand, the opportunities are bountiful right now with new sectors being supported by the government and private industry. On the other hand, many entrepreneurs find starting a new business to be quite challenging in areas such as funding sources and regulatory compliance.”
“Free seminars, like the ones organised by Tamakkan, are invaluable to supporting entrepreneurs and start-up businesses, with experts like Soaud providing critical advice.”
The next Tamakkan seminar is scheduled for 24 April from 6.00pm – 8.00pm at Al Mamoura Theatrette.
